Monday, December13, 2021 / 12:42 PM / by AfrinvestResearch / Header Image Credit: Titan FX

MarketLast Week (Our Observations)

• In the previous week, the local bourse closed in the red despite gaining on 3 trading sessions. The NGX All-Share index fell 0.7% w/w to 41,882.97 points while YTD return moderated to 4.0% (previously: 4.7%).
• Performance of sectors within our coverage was bullish as 5 indices gained while the Industrial Goods index declined 5.4% w/w. Accordingly, the Banking, AFRI-ICT, and the Oil & Gas indices, rose 5.5%, 2.2%, and 1.3% w/w respectively. Similarly, the Insurance and Consumer Goods indices ticked higher by 1.2% and 0.1% w/w respectively. 
• The top outperformers for the week were MEYER (+50.0%), ACADEMY (+20.5%), and ROYALEX (+13.2%) while UNITYBANK (-15.7%), DANGCEM (-10.0%), and LINKASSURE (-8.9%) led the laggards.

MarketThis Week (Our Expectations) 

• The Afrinvest weekly sentiment indicator strengthened to 2.4x from 1.1x.
• This week, we expect market performance to be a mix of profit-taking and bargain-hunting activities.

• NB: Rate on N100M and above are negotiable and all rates are valid ONLY for funds received on/before 17th December 2021.

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